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Stop Rs 1,000 notes without security thread: RBI to Banks

The Reserve Bank of India has directed the banks not to issue notes of Rs 1,000 without the security thread, after complaints of such notes being in circulation has been received.

"We have received complaints regarding banknotes in the denomination of Rs 1,000 printed by Currency Note Press, Nashik, on the paper (without security thread) supplied by Security Paper Mill (Hoshangabad)", an RBI spokesperson said.

Banks in Mumbai have been informed that such notes should not be issued if found in stock. Also, if a customer approaches with such a note, exchange value should be provided to them if it is otherwise genuine.

According to the spokesperson, not more than total of 500 pieces might have been circulated in public. Hence, in value terms these would be worth Rs 5,00,000.

The Currency Note Press, Nashik, comes under the control of the Finance Ministry.

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